Amigas de Nueva Esperanza is a group whose members are all neighbors and friends who live in the city of Caaguazú. They are in their sixth cycle and they participate in a study on the elimination of poverty. Seven of the members need to work to try to raise themselves out of poverty.
One of the members of this group is Mrs. Herodita, she has a small store, but a well stocked one, that she has sacrificed a lot for in order to see it expand and improve. She is a hard working and determined woman, who wants to continue offering a better service to her customers and also see her earnings increase in order to help her family. She is thankful for the opportunity that she is receiving because it will help her a lot.
She is applying for this loan so she can purchase vegetables, meat, breads, grain products and more. With these products she will be able to continue giving her customers all that they need and she will also continue working to improve her earnings.

Additional Information

More information about this loan

This loan is part of the innovative “Poverty Stoplight” program developed by Fundación Paraguaya for women living in poverty. A “stoplight” measurement tool is used to help borrowers self-identify the type of poverty that affects them most (lack of income, dearth of financial opportunities, poor living conditions etc.). Borrowers rate 50 areas of their life as green (not poor), yellow (poor) or red (extremely poor). Together with their loan officer, they come up with a plan to resolve yellow and red indicators. Through this program, Fundación Paraguaya hopes to lift 9,000 women and their families out of poverty by 2017.

To learn more about this unique approach to eliminating poverty, you can read this article on Fundación Paraguaya’s website.

About Fundación Paraguaya

Fundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.